> It's a miracle we haven't had a mass default bring down the entire student loan system yet. Low unemployment will do that. Just wait for when U3 creeps towar

> It's a miracle we haven't had a mass default bring down the entire student loan system yet. Low unemployment will do that. Just wait for when U3 creeps toward 7% or so, when the prospects of employing the sociology, theater, and gender studies majors for "college graduate salaries" becomes untenable for employers. Then you'll probably see it pop. Or not. Markets can remain irrational surprisingly long times.